Auto Loans
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Last Updated: 04/18/2025
BMW Financial Services
Unaffiliated
in Auto Loans from BMW of North America, LLC
Last Updated: 04/18/2025
SuperMoney User Recommendation Score -80
Strongly not recommended49 total votes
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Highlights
Community Rating
Strongly not recommended
Amount Range
N/A
APR (Fixed APR)
Starting at 0.9%(Verified 06/21/2024)
Disclaimer popup with additional information
Credit Score Range
650 - 850
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Loan Term (Months)
Up to 72
Number of Reviews
BMW Financial Services Review
BMW Financial Services is offered by BMW of North America, LLC, a financial services company founded in 1975 and based in Woodcliff Lake, NJ. BMW financial are available in 50 states.
BMW financial FAQ
What APR does BMW financial offer on its car loans?
BMW financial offers a fixed apr car loan product that ranges from 0.9% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
What is the maximum auto loan term you can get with BMW financial?
BMW financial has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.
Does BMW financial charge an origination fee?
Yes, BMW financial may charge a loan origination fee .
Does BMW financial charge a late fee?
Yes, BMW financial charges borrowers with a late payment penalty fee
Does BMW financial charge prepayment fees?
Yes, BMW financial does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.
Can I pay off early my BMW financial loan?
Yes, you can. However, BMW financial charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.
What do you need to qualify for BMW Financial Services?
Applicants with a credit score of at least 650 and up to 850 may be eligible for BMW Financial Services. The minimum age to be eligible is 18 or the state minimum, whichever is higher. BMW Financial Services does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
To qualify, applicants may need to provide the following documentation:
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan via BMW financial?
BMW financial will typically fund the car loan within 7 business days of approval.Does BMW Financial Services report your account activity to credit bureaus?
Yes, BMW Financial Services reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does BMW of North America, LLC perform a hard credit pull?
Yes, BMW financial performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is BMW of North America, LLC a legit company?
BMW of North America, LLC was founded in 1975, it is a well-established company that has been in business for 51 years. BMW Financial Services is strongly not recommended by SuperMoney community users.
BMW Financial Services Disclosure: "Actual rates, down payment, and other credit terms may vary based upon model, state selected, creditworthiness and other factors. Not all customers will qualify for the lowest rates."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from BMW financial
Message from our editor
What we love about BMW Financial Services
BMW Financial Services offers financing when you’re shopping for BMW cars. One of the best parts of using BMW Financial Services is that you can go through the entire application process online, letting you see what type of loan you qualify for before you visit a dealership.
If you prefer to do most of your shopping online, working with BMW Financial Services also gives you the chance to browse the company’s inventory of cars from the comfort of your own home. You won’t have to drive from one dealer to another to find the right car.
The company’s rates are competitive and it offers a number of discount programs, including discounts for members of the military and recent college graduates.
What could BMW Financial Services do better?
The obvious drawback of working with BMW Financial Services is that it only offers financing if you want to buy a BMW. If you’re looking for a car from another manufacturer, you can’t borrow money from BMW Financial Services.
Additionally, BMW Financial Services only works with select dealers, so if you find a BMW at a non-partnered dealer, you can’t use financing from BMW Financial Services.
There are also reports of the company having poor customer service, which may give some borrowers pause.
BMW Financial Services’s backstory
Bayerische Motoren Werke AG (commonly called BMW) is a German automaker founded in 1916. The company produces and sells cars across the globe. The company opened BMW Financial Services to help people financing the purchase of new BMW vehicles.
The Verdict
If you’re planning to buy a BMW, then BMW Financial Services is a good company to work with. There’s little reason not to fill out an application online as part of your rate shopping. If you’re not sure what type of care you want to buy, you’ll be better off with a more flexible lender.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users don't recommend this product, giving it a user recommendation score of -80, or 1.4 on a 5-point rating scale.
-80
-1000+100
No one recommends
Everyone recommends
BMW Financial Services Community Reviews
Would you recommend BMW Financial Services to your friends?
Kira H.
Aug 27, 2024
May or may not recommend
They require you to send a check (recommend cashiers check!) in the MAIL to payoff your loan! What kind of unsafe and antiquated policy is this?? Oh and when you send the cashiers check certified mail and it gets lost, they won’t waive any accrued interest even though you made a good faith payment and upheld your end of deal. P.S. Cashiers checks can’t be canceled for 90 days!!! Would ...Show More
Aaron A.
Sep 23, 2023
May or may not recommend
THis company Offers Bad Quality Vehicles and They dont stand behind their brand to take care of any issues.
RB
R B.
Sep 27, 2022
May or may not recommend
This has to be one of the only leasing companies that won't allow you to sell or trade your leased vehicles to a non BMW/MINI brand vehicle. We have had three leases on new MINI's buying out the residual on two. On our third lease a dealer has offered us $10,000 more than our residual to outright purchase our car. But BMW Financial won't allow it. We either have to ...Show More
RK
Roy K.
Aug 15, 2022
May or may not recommend
Worst company stay away at all cost!!!!!!! They destroyed my credittttt they put missed payments even though i paid alll the payments on time!!!! Worst worst worst company stayyyy awayyyyy!!!!
KP
Keisha P.
Jan 31, 2022
May or may not recommend
After 48 months of perfect payment, this company seems to desire to work hard to ensure unfair negative credit reporting. Despite postal delay, covid pandmeic and my child dying in my arms there was no mercy for making a 30 day final payment. I pray to God that whomever is sitting high and just pushing buttons never has their child die in their arms.
DS
David S.
Nov 8, 2021
May or may not recommend
They make you pay more for "certified" but their definition of certified is essentially it was not broken when you bought it.
U
Anonymous
May 27, 2021
May or may not recommend
Customer Service is HORRIBLE, and I mean HORRIBLE!,,,
You are pushed off to someone else, reps DO NOT CARE, and most problematically it is absolutely impossible to have them change a clerical error in their system so that the correct statements are sent to the correct person (i.e. they mixed up the accounts of my son and I for over six years across three vehicles and cannot find a way to ...Show More
RH
Richard H.
May 17, 2021
May or may not recommend
This is my third BMW in a row but the first time I finance using a Lease. I returned the car in excellent conditions with half of the agreed millage. I was told (by the BMW Dealer) that I would receive a $300 credit for significant less mileage as BMW FS would benefit for the higher resale value, but I was charged for $372.75 which I noted that was small ...Show More
VW
Virginia W.
May 5, 2021
May or may not recommend
Just closed my account on April 24th, my BMW loan was bought out by my Bank of America account but BMW charged me the payment on May 3rd! They say they can’t put the money back until May 27th! BMW was not authorized to charge my personal bank account after April 24th, 2021!
DR
Dakota R.
Apr 8, 2021
May or may not recommend
One of their service centers installed a bad radiator in my car and my engine is now effectively totaled! The dealership responsible is refusing to cover the new damages to my engine and they let my fiancé and I drive off in it being unsafe to drive!! I have complained to corporate and still no help just backlash. We’ve been stranded with out our car for almost a month paying ...Show More
SR
Stan R.
Dec 2, 2020
May or may not recommend
My wife and I purchased a 2017 Mini Cooper and financed it through BMW Financial. We have always made payments of almost double the monthly payment and on 10/1/2020 decided to pay it off in full and sell the vehicle as my wife was ready to get something new / different. We wrote the check for $19,000.00 in payoff in mid November and I posted the car for ...Show More
VR
Vijay R.
Nov 30, 2020
May or may not recommend
BMW Financial is crushing its customers during this tough time. They won't help with ending lease earlier - they did not want to have anything to do with it. Then I paid over $120 to find a buyer to take my lease. They charged buyer $533 for the transfer. Then they said it will take 6 - 8 weeks to complete the lease transfer, which includes ...Show More
PK
Praveen K.
Oct 23, 2020
May or may not recommend
I never recommend if anyone going to BMW Financial Services. My recent experience is very bad, 3 years back I leased the car and recently when I was trying to return my car, they put lot of extra charges saying that tires not in good shape, each tire cost $300 where the same tire cost $200 in reputed service centers like Costco, Firestone, and America's Tire. and also they cost ...Show More
MT
Misty T.
Oct 21, 2020
May or may not recommend
I am helping a customer out by trying to get the lien release for a new vehicle he just purchased from an individual seller. I called 3 weeks ago and spoke to Luke, which is amazing, and he guided me threw the process to be able to receive this document. Today I call and spoke with a young lady (didn't get her name, and again amazing) and she tells ...Show More
DE
David E.
Sep 25, 2020
May or may not recommend
Awful service all around. They were not helpful, provided no information as to why a lease was denied despite a high credit score, and refused to provide help or information by phone while keeping me on hold for an hour in 15-20 minute increments. Demonstrated incompetence by saying they could help and re-sending the same documents which did not help us with registration.
RG
Rosalie G.
Aug 21, 2020
May or may not recommend
I have a x3 2013 that is a lemon!!! I have spent $5000. Trying to fix a power train issue that never ends... I’m now told $6550.00 more for timing chain issues which had an extended warranty that ran out right when all this started.. I’m told too late now for warranty and Bmw America refuses to assist with the cost at all....
SD
Shira D.
Jul 20, 2020
May or may not recommend
will never do any business with this company. After having my car from 10/2017 and always making payments on time, one month they tried to collect the payment from a closed account and did not notify me that that payment was unsuccessful and reported me late. I have never been late with any payment and has an excellent credit score. They insist on this reporting and I already started a ...Show More
U
Anonymous
Mar 30, 2020
May or may not recommend
BMW Financial Services is misleading on the documentation the provide you, misleading customers with important clause applications under ***Asterisks, making it impossible to have a clear understanding of their auto lease contract. You will be mislead, and when you need their help, customer service is non-existent, you will never have any help from that group.
Do not use their services this is a WARNING: I will never lease a car ...Show More
Sven C.
Dec 6, 2019
May or may not recommend
@BMWCHATTANOOGA
great experience , although i know what is a BMW in automotive world as myself I work in that industry the buying experience was easy, got what i wanted, i dont have any problems by paying over the internet my financing, Thank you BMW CHATTANOOGA
LB
Luwana B.
Sep 27, 2019
May or may not recommend
BMW was over paid on a car loan and the financial service department continues to give me the run- around insisting the check is in the mail. I have called numerous times ! There would be penalties for me if I was late!
what makes it OK for them to do this?
Showing 20 of 49 reviews